in a synopsis what is the trade balance between Canada and a USA
The trade balance between Canada and the United States is complex but remains one of the largest bilateral trade relationships globally. In 2024, Canada had a merchandise trade surplus with the U.S. of approximately C$100 billion (US$45 billion), largely driven by energy exports. However, when including services, the surplus shrinks to about C$85 billion (US$38 billion) due to U.S. dominance in services trade[1][2].
From the U.S. perspective, its goods trade deficit with Canada was US$63.3 billion in 2024, representing a small portion of its overall trade deficit compared to other partners[2]. Energy products account for most of Canada's trade advantage, while non-energy trade shows a U.S. surplus of around US$45 billion[1]. Total trade between the two nations exceeded US$760 billion in 2024, highlighting their deeply integrated economies[2][3].
Citations:
[1] Setting the Record Straight on Canada-U.S. Trade - TD Economics https://economics.td.com/ca-canada-us-trade-balance
[2] Canada | United States Trade Representative https://ustr.gov/countries-regions/americas/canada
[3] Canada–United States trade relations - Wikipedia https://en.wikipedia.org/wiki/Canada–United_States_trade_relations
[4] [PDF] U.S. Trade with Canada - Bureau of Industry and Security https://www.bis.doc.gov/index.php/documents/technology-evaluation/ote-data-portal/country-analysis/2948-2021-statistical-analysis-of-u-s-trade-with-canada/file
[5] Trade in Goods with Canada Available years: 2024 | 2023 | 2022 https://www.census.gov/foreign-trade/balance/c1220.html
[6] [PDF] U.S.-Canada Trade Relations - CRS Reports https://crsreports.congress.gov/product/pdf/IF/IF12595
[7] Canada-United States relations https://www.international.gc.ca/country-pays/us-eu/relations.aspx?lang=eng
[8] US-Canada Trade Statistics: New Tariffs & Impact | Analyzify https://analyzify.com/hub/us-canada-trade-statistics